Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

CV Vs TME: Improving Financials and Outspending TME on Content Cost - Reason for Absence of Profits

TME: Says Order on Music Rights Have Some Impact but User No’s and ARPPU Already Under Pressure

Tencent: Weakening Online Games; Cautions Investors that More Regulatory Changes Are to Come

TME: May Have to Giveup Exclusive Rights to Music Labels but Unlikely to Be Ordered to Sell Key Apps

Cloud Village IPO: Improving Financials and Less Fear of Regulatory Crackdowns for Investors

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/cloud-village-inc" target="_blank" data-smartkarma-citation="entities:33412:1" rel="noopener">Cloud Village (CLV HK)</a>  is a leading music streaming platform in China and the company is backed-by NetEase, one of the largest games and entertainment companies in China. The company has filed for an IPO to list its shares on the Hong Kong Stock Exchange (HKEx) and according to news media outlets, the company plans to raise proceeds of about US$1bn.In our previous insight on the company’s IPO, we examined Cloud Village’s business model, revenues and margins. We also concluded that the evolving regulatory landscape in China should favour Cloud Village where China’s largest music live streaming platform <a href="https://www.smartkarma.com/entities/tencent-music-entertainment" target="_blank" data-smartkarma-citation="entities:27255:1" rel="noopener">Tencent Music (TME US)</a>  (a market share of 72.8% vs 20.5% for Cloud Village) has been ordered by the country’s regulators to give up on their exclusive music licensing agreements with leading global music labels including Warner Music Group (WMG), Universal Music Group (UMG) and Sony Music.Cloud Village has received the approval for their HKEx IPO and on the latest PHIP filing (dated 01st August 2021), Cloud Village has provided 1Q2021 results, and this insight focuses on the new data points from the PHIP filing. The company’s revenues grew 74.6% YoY to RMB1.5bn in 1Q2021 driven by growth in revenue from both online music services and Social entertainment services and others.

Cloud Village (CLV HK)  is a leading music streaming platform in China and the company is backed-by NetEase, one of the largest games and entertainment companies in China. The company has filed for an IPO to list its shares on the Hong Kong Stock Exchange (HKEx) and according to news media outlets, the company plans to raise proceeds of about US$1bn.In our previous insight on the company’s IPO, we examined Cloud Village’s business model, revenues and margins. We also concluded that the evolving regulatory landscape in China should favour Cloud Village where China’s largest music live streaming platform Tencent Music (TME US)  (a market share of 72.8% vs 20.5% for Cloud Village) has been ordered by the country’s regulators to give up on their exclusive music licensing agreements with leading global music labels including Warner Music Group (WMG), Universal Music Group (UMG) and Sony Music.Cloud Village has received the approval for their HKEx IPO and on the latest PHIP filing (dated 01st August 2021), Cloud Village has provided 1Q2021 results, and this insight focuses on the new data points from the PHIP filing. The company’s revenues grew 74.6% YoY to RMB1.5bn in 1Q2021 driven by growth in revenue from both online music services and Social entertainment services and others.

Cloud Village

Cloud Village IPO (PHIP): Getting Better